What made you interested in investing in this type of deal?

But per lot it will cost roughly the following:$1,500 Electrical poles, meter installation $2,000 water taps and connections$5,000 grading and land prep$8,000 septic installation (assuming a 1:1 ratio of homes to 1000 gallon septics)$5,000 down payment on each home ($700-750 / thereafter per unit)$21,500 total set up x 17 = $365,000Ongoing expenses after development would look something this for POH model: $12,750 a month in mobile home mortgages (17 x 750 for PITI on each unit) $1,900 a month in land mortgage PITI (house) $3,000 a month landscaping$2,000 a month in reserve emergency fund$2,200 management$21,850 a month total expenses $262,200‬/yearOngoing incomes after development would look something this for POH model:$27,000/month ($1500 x 18 {17 mobile homes plus house})$324,000/year324k-262,2k = 61,800 net pre-tax profit or $5,150/month.Opportunities to reduce start up expenses: Bulk deals with the government or contractors for doing all the work at once (electrical, water, land grading, septic) Trade free rent for someone to mow and landscape (turning a $3k event into a $650 event every month).

It's a large financial investment; hence I'm performing my due diligence....something every savvy investor would do before making a deal.  

Run the numbers to see how they compare to you renting.You make money when you buy a rental-getting a good deal and buying the right property. 

And this new banker asked me How did I know Mike as it was not common for him to deal with guys our size.

i know someone who does Gap lender for fix and flip and other deal, massage me if you want me to put you in contact with them

Since you have an ITIN number and are borrowing with your son, you will probably have to be a minority owner in an LLC to make the deal work.

It doesn't sound like you're using a multi-family spreadsheet calculator to underwrite your deal. 

What made you interested in investing in this type of deal?

What made you interested in investing in this type of deal?